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[Monitor] Chinese, Americans own most homes in Korea
By Korea HeraldPublished : Aug. 5, 2020 - 11:01
From the beginning of 2017 until the end of May of this year, a total of 23,219 foreign nationals have purchased apartments in South Korea, with the number of units reaching 23,167.
The data was released by the National Tax Service as it announced plans to launch a tax probe against 42 foreigners who own multiple homes with suspicions of evading taxes. The government has been tightening rules and imposing higher taxes in their attempt to curb housing prices in Seoul.
(khnews@heraldcorp.com)
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Articles by Korea Herald
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